Posts Tagged ‘Chinese Gold Imports’

Having large gold reserves are not required to be in the SDR. China had to wait until its stock market was crashing to present the “systemic stability” bazooka: Gold. Because in revealing a surge in its gold holdings, the PBOC is hoping to finally provide that final missing link that will boost investor sentiment, and get people buying stocks all over again.

The Chinese think differently about gold. They view gold in the context of its role throughout history & dismiss the Western economist who arrogantly declares it an outdated relic. They buy gold in preparation for a new monetary order, not as a trade they hope earns them a profit. Don’t you worry about gold prices. China’s got your back.

The unprecedented demand for gold from China, in 2013, was being supplied to by the UK. So how much floating supply of physical gold is there left in London? Kenneth Hoffman states that the London gold vaults were virtually empty in December 2013. Are the last bars being moved out at this very moment?

The latest China gold import figures via Hong Kong show a 140% increase over the first 2 months of 2014, suggesting Chinese demand is far from slowing down. For the first 2 months of 2014, net gold imports through Hong Kong totalled 192.8 tonnes as compared with 80.6 tonnes in the same of 2013